Edgestream Partners L.P. Sells 81,260 Shares of SL Green Realty Corp. (NYSE:SLG)

Edgestream Partners L.P. trimmed its position in SL Green Realty Corp. (NYSE:SLG) by 66.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,620 shares of the real estate investment trust’s stock after selling 81,260 shares during the period. Edgestream Partners L.P. owned approximately 0.06% of SL Green Realty worth $2,897,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SLG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of SL Green Realty by 396.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock valued at $31,058,000 after purchasing an additional 356,275 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of SL Green Realty by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after purchasing an additional 97,653 shares in the last quarter. Lighthouse Investment Partners LLC lifted its holdings in shares of SL Green Realty by 150.0% in the second quarter. Lighthouse Investment Partners LLC now owns 150,000 shares of the real estate investment trust’s stock valued at $8,496,000 after purchasing an additional 90,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in SL Green Realty by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock worth $56,350,000 after acquiring an additional 88,309 shares in the last quarter. Finally, Waterfall Asset Management LLC bought a new stake in SL Green Realty during the second quarter worth about $3,172,000. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SLG shares. Scotiabank upped their target price on SL Green Realty from $68.00 to $80.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and upped their target price for the stock from $44.00 to $66.00 in a report on Friday, September 13th. Jefferies Financial Group upped their target price on SL Green Realty from $70.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Compass Point set a $65.00 target price on SL Green Realty and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company upped their price objective on SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $66.00.

SL Green Realty Price Performance

SL Green Realty stock opened at $78.19 on Monday. SL Green Realty Corp. has a 12 month low of $36.10 and a 12 month high of $82.81. The stock’s 50 day moving average is $74.63 and its 200-day moving average is $65.25. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of -31.28, a PEG ratio of 3.82 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The firm had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same period in the previous year, the company posted $1.27 EPS. Equities research analysts expect that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Friday, November 29th. SL Green Realty’s dividend payout ratio is currently -120.00%.

SL Green Realty Profile

3SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.